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Stock dividends reported by multiple institutions?
I own shares of stock. Both the brokerage and the company sent me a 1099-DIV. The dividend amounts on the 1099-DIVs are different. I don't want to report both 1099-DIVs as this would just about double report the dividend income. How should I reconcile this?
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posted
June 3, 2019
11:43 AM
last updated
June 03, 2019
11:43 AM


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Stock dividends reported by multiple institutions?
Do you have stock certificates in your own possession, and still more held by a broker?. That's the only way this would happen.
June 3, 2019
11:43 AM
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Stock dividends reported by multiple institutions?
You need to include both Form 1099-DIV on your return.
They are reporting dividend income from two different sources, not duplicating one another. If you are unsure about what each form is reporting with regard to the stock that you own, you should contact the payer for each Form 1099-DIV to get more information to understand your situation.
The IRS has also received a copy of each of these Form 1099-DIV and will expect to see them both reported on your tax return. Leaving one off of your return will likely result in a letter from the IRS for not reporting all of your income. The letter will request that you pay additional tax plus penalties and interest.
June 3, 2019
11:43 AM
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